Usmanov sells shares in Apple, Facebook and buys into Chinese firms including Alibaba; may buy MegaFon/Mail.ru stock
Russian tycoon Alisher Usmanov has sold his shares in Apple and Facebook, and purchased stock in Chinese technology companies including Alibaba Group Holding, according to a 17 March newswire report.
Bloomberg quoted Ivan Streshinskiy, CEO of USM Advisors, Usmanov’s asset management company, as saying that Chinese firms account for approximately 70%-80% of the group's portfolio of foreign Internet investments. Most of the group's technology investments are in Alibaba and JD.com, among others, Streshinskiy said.
Last year Usmanov acquired a stake in Apple for about USD 100m, and sold it recently, Streshinskiy confirmed. The divestment follows the businessman’s gradual lowering of his stake in Facebook.
According to Streshinskiy, should Russian stocks fall further, Usmanov’s firm may consider acquiring shares in Russian telecom operator MegaFon and internet payer Mail.ru Group Ltd, the report said.
Russian daily Vedomosti also picked up this development and reported that Usmanov had become a shareholder in Facebook in 2009, and in Alibaba Group in 2011.
Source news wire round up, Vedomosti